MarketsFarm — As Malaysian palm oil futures tumbled to 20-year lows during the week of Sept. 26, they have put a lot of pressure on canola prices, analyst Errol Anderson of ProMarket Communications in Calgary said. However, he said, the Canadian dollar has been the backstop that kept the oilseed from falling with palm oil. […] Read more
Tag Archives Canola — page 33
ICE weekly outlook: Canola shouldn’t fall hard
Loonie keeping oilseed off sharper decline
Canadian wheat, canola stocks projections revised higher
MarketsFarm — Canadian wheat and canola ending stocks for the 2022-23 crop year are forecast to end up above earlier projections, according to updated supply/demand estimates from Agriculture and Agri-Food Canada, released late Friday. The updated estimates account for recent production and old-crop carryout numbers from Statistics Canada. Total wheat ending stocks for 2022-23 are […] Read more
ICE weekly outlook: Seasonal upturn possible for canola
'Good underlying support' seen in futures
MarketsFarm — ICE Futures canola contracts may soon be due for a seasonal turn higher as harvest pressure subsides and prices should be looking very attractive to end users. However, uncertain outside influences will still dictate the overall direction. “The field certainly gets muddied by issues of geopolitics,” said MarketsFarm analyst Mike Jubinville, pointing to […] Read more
Farmers’ wheat, canola deliveries picking up in West
Commercial canola stocks increase
MarketsFarm — The advancing Prairie harvest has seen an increase in farmer deliveries of grains and oilseeds into the commercial pipeline, according to the latest weekly data from the Canadian Grain Commission. Export activity for canola remains very light through the first six weeks of the 2022-23 crop year, but growing supplies in the commercial […] Read more
ICE weekly outlook: Canola futures continue trending lower
MarketsFarm — ICE Futures canola contracts saw some choppy activity during the week ended Wednesday, but the general trend remains pointed lower. “Whenever canola rebounds, it doesn’t go as high,” analyst Errol Anderson of Pro Market Communications in Calgary said. Anderson described the chart pattern as a “falling top,” with previous attempts at recovery in […] Read more
StatCan’s canola call in line with expectations
Agency also boosts wheat projection
MarketsFarm — While Statistics Canada (StatCan) cut its projection for canola production in 2022-23 by 400,000 tonnes, FarmLink Marketing Solutions senior analyst Neil Townsend said the number could go lower. StatCan on Wednesday issued its latest production estimates and lowered its call on canola from the 19.5 million tonnes forecast in its Aug. 29 report […] Read more
Funds add to bearish bets in canola
MarketsFarm — The speculative net short position in the ICE Futures canola market grew during the week ended Tuesday, as fund traders added more bearish bets, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in […] Read more
Ending stocks tumble due to drought: StatCan
Canola stocks are below 'pipeline levels'
MarketsFarm — Severe drought in Western Canada during the summer of 2021 has played a major part in reducing the stocks for Canada’s principal field crops at the end of the 2021-22 marketing year, according to Statistics Canada. Canada’s central data agency released a report Wednesday presenting total ending stocks for the country’s major crops […] Read more
ICE weekly outlook: Canola trending lower
November down below $800
MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday and could be due for more weakness as seasonal harvest pressure picks up over the next few weeks. “That $800 level has been a very important price support point,” said David Derwin, commodities investment advisor with PI Financial in Winnipeg, pointing to […] Read more
Canada, China agree to suspend WTO canola dispute
Lifting of canola ban renders case moot
Berlin | Reuters — Canada and China have agreed to suspend proceedings against Chinese measures affecting the importation of Canadian canola seed, according to a World Trade Organization (WTO) complaint on Thursday. The WTO Dispute Settlement Body (DSB) panel suspended its work as of Tuesday, the complaint said. Work can be suspended at any time […] Read more
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